purchases - net definition
The gross amount of purchases minus the amount of purchase returns, purchase allowances, and purchase discounts.
The gross amount of purchases minus the amount of purchase returns, purchase allowances, and purchase discounts.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.